Users are reporting that there are some broken features, and there's no S Pen support, but this seems to be a fairly faithful port of the OS that was running on Samsung's ill-fated phablet, a least as far as the always-on display goes. Presumably a few of the bugs will be tidied up further down the line.
Rest in pieces, Note 7
It makes a lot of sense for Samsung to bring as many of the Note 7's features over as it can - after all, shoppers in the market for a high-end smartphone from the South Korean company only have the S7 to pick from for the time being.
As you might expect, the Samsung Galaxy S8 is , but it's going to be a while before that sees the light of day - the latest speculation puts the launch date at the end of February or thereabouts.